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Italian Mogul Della Valle Boosts His Interest in Saks

By

Francesca Angelini and

Liam Moloney

Updated Oct. 22, 2010 12:01 a.m. ET

ROME—Italian luxury-goods mogul Diego Della Valle has increased his stake Saks Inc. to 19.05%, becoming the biggest shareholder at the high-end U.S. retailer, according to filings with the Securities & Exchange Commission.

With the move, Mr. Della Valle, founder of the Italian leather goods maker Tod's SpA, boosts his sway over a store that has set fashion trends in the U.S. over the decades, propelling relatively unknown European designers into the fashion spotlight. Mr. Della Valle also pulls ahead of Mexican billionaire...